Raymond James Financial Issues Positive Forecast for Toronto-Dominion Bank (TSE:TD) Stock Price

Key Points

• Raymond James raised Toronto-Dominion Bank’s price target from C$155 to C$180 and maintained an “outperform” rating, implying 4.8% upside from the previous close.
• Analyst sentiment is broadly positive, with seven Buy ratings, two Holds and one Sell; MarketBeat lists a “Moderate Buy” consensus and an average price target of C$155.42.
• TD shares rose to C$171.75, near their 52-week high of C$175.33. The bank reported quarterly EPS of C$2.38 on C$16.04 billion in revenue, while two insiders recently sold shares.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD had its target price increased by analysts at Raymond James Financial from C$155.00 to C$180.00 in a note issued to investors on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the stock. Raymond James Financial's price objective points to a potential upside of 4.80% from the company's previous close.

TD has been the subject of a number of other reports. National Bank Financial upped their price objective on shares of Toronto-Dominion Bank from C$157.00 to C$162.00 and gave the stock an "outperform" rating in a research report on Friday, May 29th. Canaccord Genuity Group raised their target price on shares of Toronto-Dominion Bank from C$169.00 to C$185.00 and gave the company a "buy" rating in a research report on Tuesday, July 7th. Jefferies Financial Group raised their target price on shares of Toronto-Dominion Bank from C$134.00 to C$142.00 in a research report on Wednesday, May 20th. Barclays boosted their target price on shares of Toronto-Dominion Bank from C$135.00 to C$140.00 and gave the stock an "underweight" rating in a research note on Friday, May 29th. Finally, Scotiabank increased their price target on Toronto-Dominion Bank from C$164.00 to C$169.00 and gave the company a "sector outperform" rating in a research note on Tuesday, June 16th. Seven research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of C$155.42.

Toronto-Dominion Bank Price Performance

TSE:TD traded up C$2.65 during trading hours on Wednesday, hitting C$171.75. The company's stock had a trading volume of 975,747 shares, compared to its average volume of 5,699,797. Toronto-Dominion Bank has a twelve month low of C$100.01 and a twelve month high of C$175.33. The stock has a fifty day simple moving average of C$168.08 and a 200-day simple moving average of C$148.26. The company has a market capitalization of C$283.74 billion, a P/E ratio of 20.16, a PEG ratio of 1.22 and a beta of 0.88.

Toronto-Dominion Bank (TSE:TD - Get Free Report) NYSE: TD last issued its earnings results on Thursday, May 28th. The company reported C$2.38 EPS for the quarter. The firm had revenue of C$16.04 billion during the quarter. Toronto-Dominion Bank had a return on equity of 11.85% and a net margin of 13.21%. On average, equities analysts predict that Toronto-Dominion Bank will post 7.2160149 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Kelvin Vi Luan Tran sold 8,498 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$156.61, for a total transaction of C$1,330,871.78. Following the completion of the transaction, the insider owned 26,677 shares of the company's stock, valued at approximately C$4,177,884.97. This trade represents a 24.16% decrease in their ownership of the stock. Also, insider Paul Martyn Clark sold 27,649 shares of Toronto-Dominion Bank stock in a transaction on Thursday, June 11th. The stock was sold at an average price of C$161.22, for a total transaction of C$4,457,571.78. Following the transaction, the insider owned 260 shares in the company, valued at approximately C$41,917.20. This trade represents a 99.07% decrease in their position. Insiders own 0.08% of the company's stock.

Toronto-Dominion Bank Company Profile

TD Asset Management Inc ('TDAM'), a member of TD Bank Group, is a Canadian investment management firm with a growing global presence. Bringing together three decades of investment experience, our broad selection of strategies and solutions includes fundamental equities, quantitative and passive equities, fixed income across the credit quality spectrum and alternatives, such as private credit, infrastructure and real estate. TDAM offers institutional investment solutions to corporations, pension funds, endowments and foundations, sovereign wealth funds and superannuation funds, among others.

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